Kodak Cuts 1,000 Jobs as Part of Strategy to Exit Bankruptcy

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Kodak Cuts 1,000 Jobs as Part of Strategy to Exit Bankruptcy

by Joel R. Glucksman on September 28, 2012

In a bid to quickly exit bankruptcy protection quickly, Eastman Kodak Co. has eliminated 1,000 jobs in order to further reduce its costs.

The new job cuts follow the elimination earlier in the year of roughly 2,700 positions in several worldwide locations. The company said the annual savings from the terminations will amount to nearly $330 million. In addition to reducing its labor force, the company said it will also stop manufacturing digital cameras, pocket video cameras and digital picture frames. Kodak is instead focusing its attention on developing its commercial printing segment.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Joel Glucksman, Scarinci Hollenbeck | Attorney Advertising

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